All Inventory Articles

Barcode labels help businesses track stock and access key product data easily. In a single barcode scan, you can see product details, stock on hand, pricing and even complete a sale. There are several ways to create a barcode and print labels, and we’ll show you how to get the job done in three simple…

Small business inventory management provides up to the minute data on current stock levels, inbound stock, and connects your key financials like sales and cost of goods sold. This data is critical to fine-tuning profits, cutting losses, and spotting theft and inefficiencies. In this article, we’ll show you how to get your inventory organized and…

A SKU (Stock Keeping Unit) is an alphanumeric code, usually 6 to 8 characters long, that identifies a product and helps you track inventory. You can create SKU numbers manually or in your inventory management or point of sale (POS) software. SKU numbers print on your product label along with the product’s UPC Code and…

Last In First Out, also known as the LIFO inventory method, is one of five different ways to value inventory. LIFO assumes that the most recent items purchased (the newest items) are sold first. LIFO is best for businesses that sell non-perishable products that do not require refrigeration and generally have a longer shelf life….

First in First out, also known as the FIFO inventory method, is one of five different ways to value inventory. FIFO assumes that the oldest items purchased are sold first. FIFO is best for businesses that sell perishable food/drink items or products that have an expiration date like certain medications. Keeping careful track of perishable…

This guide explores how to efficiently handle your business’s physical inventory counts. You can also download our free inventory templates which include tips on how to use them. By the end of this guide, you’ll have the tools you need to conduct a physical inventory count, and the know-how to craft a process that works…

The power of a modern POS system comes from its inventory management capabilities. Harnessing those capabilities to manage inventory will save you tons of time and allow you to update your product count automatically in real time, automate purchase orders, dramatically reduce inventory shrink, increase sales efficiency and more. In this article, I’ll show you…

In this article, we look at three of the top inventory management software providers and compare them based on cost, features, ease-of-use, and customer support, recommending the one we feel provides the best overall value for your small business. Best Inventory Software for Small Businesses: Lightspeed Retail For the traditional brick-and-mortar small business owner that…

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